If you are an investor in the crypto market, knowing the difference between BNB and Matic is essential. These two coins are both trendy in the cryptocurrency world, but they serve two different functions.
This article will help you to know what these coins are, how they differ, and how to swap BNB to Matic in a few simple steps.
What are BNB and Matic Network?
BNB is an ERC-20 token that is the native currency of the Binance exchange. It can be used to pay for any fees on the exchange, including listing fees, withdrawal fees, and any trading fees.
Matic Network is a scaling solution for Ethereum, which means that it can handle more transactions per second than Ethereum. It has similar features and benefits like BNB, but they are not related to each other. The conversion rate of these two currencies is relatively high since most people choose to use them.
What is the relationship between BNB and Matic Network?
Matic is an Ethereum-based blockchain platform for decentralized applications with verified identities. It can handle many more transactions per second than Ethereum, which means that Matic tokens are faster and more secure.
BNB is the native currency of the Binance exchange, which is one of the leading cryptocurrency exchanges in the world. It has a wide variety of cryptocurrencies available to trade on its platform.
Matic Network and BNB are not related to each other except for their similarity in features and benefits. For example, both networks offer fast transactions times and security. So if you want to invest in both networks at once, this article will show you how!
How to exchange your BNB for Matic tokens?
Here is the step-by-step process, which helps you to exchange your Binance coin to polygon:
- After Visiting Alligat0r, Go to the Crypto pairs section of the platform, and then select the coin to be exchanged
- Select BNB to Matic exchange
- Enter the number of coins you want to swap.
- Choose the rates at which you want your BNB to be converted to Matic. Fixed and floating rates are the two types of rates offered. Make your choice based on your preferences.
- Provide the wallet address details in which you want to receive this coin after completing the exchange from BNB to Matic. Note that all the details should be mentioned correctly; otherwise, the coin will be transferred to the wrong wallet address.
- You can also check how many coins you are going to receive after the conversion is completed.
- Send BNB to the desired address from your wallet.
If you wish to swap BNB to Hive, you may do it in a few easy steps by following the procedures outlined above. Simply choose BNB to Hive in the Crypto pair option to be exchanged.
After reading this article, you should have a better understanding of the relationship between BNB and Matic Network, how to exchange your BNB for Matic tokens, and what to expect in the future. When doing crypto exchanges such as this one, make sure you’re using a protected and fully secure exchange platform to exchange your currency.